​Golden words: The motivational speaker industry

What's more, 80 percent of motivational speakers now sell something besides their pep talk.

But merchandise is only the beginning.

SHIPP: "It is your imperfections that make you human, and your humanity that makes you influential."

Thirty-two-year-old Josh Shipp turned a very rough childhood -- and a talent for talking to young people -- into a career. As a teen he'd amuse his fellow students for $75 a speech. Today, he delivers a targeted message of hope over adversity, and gets a five-figure check every time he takes the stage.

SHIPP: "Oh, let me guess, Motivator Boy: Every time life gives you lemons you make lemonade? No, no. Every time life gives me lemons, I squirt life in the eye with a lemon!"

Smith asked, "How much of your income comes from speaking?"

Josh Shipp. CBS News

"Five years ago, 99 percent," said Shipp. "Today, 10 percent."

Now, he's also training other speakers. Shipp started the Youth Speaker University, a for-profit school for the growing number of people who think they have what it takes to motivate.

"There's sort of that undefinable 'it' factor that I look for when I'm mentoring speakers," said Shipp. "There's something that they have to get on their soapbox about. Give me that person, and I can eventually turn you into a successful speaker."

"Successful," as in getting paid for it.

And that's something he's learned all about.

When Smith asked Shipp, who's in his early 30s, for an idea of his overall worth, he replied, "I mean, certainly my cash net worth would be in the seven figures."

"So speaking's a good gig?"

"Yes," said Shipp.

DYER: "I am 74 years old, and I have sex almost every day. Almost on Monday, almost on Tuesday, almost on Wednesday..."

Bottom line: Talk isn't always cheap, nor does it need to be, as long as there are people motivated to buy it.

Smith asked, "What do you say to folks who say, 'This is a bunch of baloney'?"

Dr. Wayne Dyer CBS News

"I say, 'you're probably right,' you know?" replied Dyer. "If you really believe, it's like that famous quote of Henry Ford: 'Whether you believe you can or whether you believe you can't, either way, you're correct.' And if you believe it's baloney, then you're probably attracting a lot of baloney into your life."

"You've been talking about this for a long time," said Smith, "and other people have been talking about this for a long time. If it's so self-evident and it works so well, why are people still hungry for this message? Why do people still need motivational speeches?"

Dyer replied, "Because you don't have to be sick to get better."

Dr. Wayne Dyer's top 5 motivational speeches of all time
"Sunday Morning" asked the self-help author for his favorite addresses aimed at elevating and moving an audience to action

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